Uragold Acquires High Purity SiO2 Properties and Closed Silicon Metal Mines in the Province of Quebec


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TSX.V:UBR
05/22/2014 [ACCESSWIRE]

Montreal, QB / ACCESSWIRE / May 22, 2014 / Uragold Bay Resources Inc. ("Uragold") (TSX Venture: UBR) is pleased to announce that it has acquired, through map staking, a strategic portfolio of high purity silica (+98.5% SiO2) deposits and closed silicon metal mines in Quebec.

About Silicon Metal

Silicon Metal is known as a semi-metallic or metalloid, having several of the characteristics of metals. It is derived from Silicon dioxide also known as silica (SiO2). Silica is most commonly found in nature as quartz. High purity quartz deposits (+98.5%SiO2) with low impurities are rare. Commercially produced metallurgical grade silicon metal is typically Si 98% pure and is notably produced in China, Russia, Brazil, Norway, South Africa and USA.

Most metallurgical silicon metal is used as an alloying agent in the aluminum industry due to its ability to increase the strength of aluminum. Demand from the aluminum industry has grown steadily in recent years due to increased usage of aluminum in structural engineering, aircraft manufacture and the automotive industry. Silicon metal is used in the primary and secondary aluminum industry to improve the strength of aluminum. This ability of silicon metal is of importance to the automotive industry where components made from Aluminum Alloys provide a strong and lightweight replacement for heavier cast iron engine blocks and steel wheels. By reducing the weight in automobiles, fuel consumption decreases. As a result green house gas emissions are reduced which is a major contribution to conservation of the environment.

In addition, there is increasing demand for Silicon Metal from the solar power generating industry where solar panels are made from silicon, which use the sun's energy to produce domestic and industrial electricity. Silicon based polymers are also used as alternatives to hydrocarbon based products. They can appear in many every day products such as lubricants, greases, resins, skin and hair products. A more well known use of silicon is silicon chips, produced from semi-conductor grade silicon they are components in many every day electronic devices

Increase demand from the aluminum industry and a tightening of supply for high purity silica (+98.5%) has push prices higher in recent years. The latest price for high purity silica (+98.5%) is US$1.45/lbs. (May 2014).

About The Properties:

 --------------------------------------------------------------
 |Property     |Location   |SiO2 Historical Estimates         |
 |------------------------------------------------------------|
 |Drucourt     |Charlesvoix|300,000 tons                      |
 |             |           |Historical Resource               |
 |             |           |98.60%                            |
 |------------------------------------------------------------|
 |Gendron      |Outaouais  |150,000 tons                      |
 |             |           |Historical Resource               |
 |             |           |99.36%                            |
 |------------------------------------------------------------|
 |Ronceveaux   |Gaspesie   |414,700 tons                      |
 |             |           |Historical Resource               |
 |             |           |99.20%                            |
 |------------------------------------------------------------|
 |Martinville  |Eastern    |1,092,000 tons Historical Resource|
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Malvina      |Eastern    |Quartz veins, sampled 99.74% SiO2 |
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Bouffard     |Eastern    |Quartz veins, sampled 99.60% SiO2 |
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Turgeon      |Eastern    |Quartz veins, sampled 99.80% SiO2 |
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Broughton    |Eastern    |Quartz veins system outcrop       |
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Beaudoin Mine|Eastern    |Closed Silica Metal Mine          |
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Bourque Mine |Eastern    |Closed Silica Metal Mine          |
 |             |Townships  |                                  |
 |------------------------------------------------------------|
 |Montpetit    |Hemmingford|Closed Silica Metal Mine          |
 |Quarry       |           |                                  |
 |------------------------------------------------------------|
 |St-Gedeon    |Beauce     |Quartz veins system outcrop       |
 --------------------------------------------------------------

A qualified person has not verified the relevance and reliability of the properties outlined above. All information such as resources estimates and grades herewith presented is historical in nature and while relevant, the information was obtained before the implementation of National Instrument 43-101 and as such does not meet National Instrument 43-101 reporting standards. The historical estimate should not be relied upon until the Company can confirm them.

Source: Resources Naturelles du Quebec, Sigeom 2014, Nonmetalic Deposits

Patrick Levasseur, Uragold President and COO, remarks: "We are extremely pleased to have been able to acquire, through map staking, such a strategic portfolio of high purity silica (+98.5%SiO2) deposits in Quebec following the January 24, 2014 announcement between the Government of Quebec and the Spanish company FerroAtlantica.

Our past experience in the graphite sector, when we acquired and sold for a profit graphite properties to Canada Carbon, gives us confidence that we can increase shareholder value while focusing on advancing the Beauce Placer Gold property and the Golden Hope Bellechase-Timins deposit into producing gold mines"

(http://www.investquebec.com/international/en/press-room/press-releases/ferroatlantica-chooses-quebec-for-its-new-silicon-metal-plant.html)

About Uragold Bay Resources Inc.

Uragold Bay Resources is a junior exploration company trading on the TSX Venture under the symbol UBR. Uragold holds gold properties in Southern Quebec's Appalachian belt. Uragold's business model is focused on the development of small-scale gold exploration projects into mines in order to generate free cash flow to internally finance growth and blues sky exploration.

Uragold aims to become one of the rare cash flow generating junior mining company in the next 12 - 18 months by developing Quebec's first placer mine in 50 years, the Beauce Placer Project and by developing, in partnership with Golden Hope Mines, the Bellechasse-Timmins Gold Deposit.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information contact

Bernard J. Tourillon, Chairman and CEO
Patrick Levasseur, President and COO

Tel: (514) 846-3271

www.uragold.com

 

SOURCE: Uragold Bay Resources Inc. 

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